Finance

Plumbing Matters

Focus on quantities

First ECB, then EFSF

Forget the G7, Watch the C5

At its core, this rolling crisis is really about financial globalization.

Financial Globalization versus the Nation State

While waiting for TALF

Can the renminbi displace the dollar as the world’s international money?

Understanding QE3

The U.S., in aggregate, acts as a bank to the rest of the world. The precise role of that bank has evolved over the course of the crisis.

The first graph shows US financial flows over the past five years.

One silence, and one silo

I am late to the party on the inventive use of copper by Chinese companies seeking alternative sources of funds.

And heading where?

Updating Hawtrey for the Shadow Banking System